The CEO of Tesla would take this risk by reducing the company's margins.
Late last year, when it drastically reduced the cost of its models in the US, China, and Europe, Tesla shook up the EV market.
Since then, the company has reduced pricing numerous times.
but this summer, things have basically stabilized.
Elon Musk, the CEO of Tesla, declared that he would lower electric vehicle pricing once more.
Price reductions during "tumultuous times" come at the expense of the company's own profit margins.
Musk informed analysts during Tesla's Q2 2023 earnings call on Wednesday.
Due to the unstable state of the global economy, sometimes tough choices must be made.